Texas Oil and Natural Gas Industry Paid a Record $24.7 Billion in Taxes and Royalties in 2022

The surge in oil and natural gas prices was a boon for the state of Texas in 2022. The Texan oil and natural gas industry paid a record $24.7 billion in taxes and royalties last year, crushing the previous annual high of $16 billion set in 2019 by 54%, according to the Texas Oil and Gas Association. The money goes toward funding a range of public interests such as education through public schools and universities, roads, first responders and other … Continue reading “Texas Oil and Natural Gas Industry Paid a Record $24.7 Billion in Taxes and Royalties in 2022”